Ministry of Industry and Mineral Resources announced that 11 local and international mining companies have won exploration licenses in 6 mining sites in Riyadh, Makkah and Asir regions, within the round of mining tenders, within the framework of the accelerated exploration program for unexploited mineral resources in the Kingdom.

Ministry of Industry and Mineral Resources announced that 11 local and international mining companies have won exploration licenses in 6 mining sites in Riyadh, Makkah and Asir. <The Ministry explained that the round ended with the victory of a national company and 5 consortiums comprising 10 local and international companies, including the victory of the consortium (INS Exploration Company and Odyssey Metal Limited); the exploration license in the “Umm Qasr” site in the Riyadh region, which includes gold, silver, lead and zinc minerals. gold, silver, lead, and zinc; Gold and Minerals Company Ltd. won the exploration license for the Wadi Dosh site in the Asir region, which includes gold, silver, and copper ore deposits; and Okeng and Barq Al-Saman Mining Company won the exploration license for the Shuaib Marqan site in the Riyadh region, which includes copper deposits Riyadh, which contains copper, silver, and gold deposits, in addition to winning the license to explore the Wadi Al-Jouna site in the Asir region, which includes copper, zinc, silver, and gold deposits, and a consortium (Metal Bank Limited and Mining Holding Company), and a consortium (Ruwakad Company and Masharef Mining Company). Ruwakad, and Masharef) won the license to explore the “Hazm Shabat” site in the Asir region, which includes gold deposits, and a consortium between (Madad Al Mana Mining Company and Tinka Resources) won the license to explore the “Huwaimdan” site in the Makkah region, which includes gold deposits.
The number of offers during the round competitions amounted to 44 offers; submitted by 22 local and international companies, including 10 companies participating for the first time, and were evaluated according to the highest standards that take into account the aspects of technical expertise, work programs, social and environmental commitments, and the round covered 6 sites, with a total area of up to 850 square kilometers.

The winning companies pledged to spend SAR 75 million on exploration work, in addition to SAR 5 million that the companies committed to spend on the development of communities adjacent to the mining sites and contribute to providing job opportunities for the country's sons and daughters in less developed areas.

The tour witnessed the awarding of a total of 6 sites with a total area of 450 square kilometers. The tour witnessed four companies obtaining exploration licenses for the first time, which highlights the attractiveness of the Kingdom as a distinguished investment destination in the mining sector and reflects the efforts made to provide quality opportunities for local and international investors in this promising sector, as the new licenses showed investors“ confidence in the mining investment regulation that applies the highest standards of transparency, which contributes to achieving the objectives of the Kingdom's Vision 2030 aimed at transforming the mining sector to become the third pillar of the national industry.

Ministry of Mining and Metallurgy. It is noteworthy that last October, the Ministry announced the competition for 7 mining exploration licenses through the ”Tadween“ platform, in the regions of Makkah and Riyadh, containing a range of precious and base metals such as gold, copper, zinc, lead and silver, where the period for receiving technical offers for this round ends at the end of this November.